Quit Pay Sample Clauses

The Quit Pay clause defines the financial obligations that arise when a party chooses to terminate a contract before its completion. Typically, this clause outlines the amount or formula for payment due upon early termination, which may include compensation for work performed, materials purchased, or other incurred costs up to the termination date. Its core function is to ensure that the terminating party compensates the other for losses or expenses resulting from the early end of the agreement, thereby allocating risk and providing financial clarity in the event of contract cessation.
Quit Pay. Employees who quit during a pay period must be paid in full within 72 hours (Saturday, Sunday and Holidays excluded).
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Quit Pay. Employees who quit during the pay period shall be paid within seventy-two (72) hours either by picking up a check on the job, by registered or certified mail or through a representative of the Painters and Allied Trades District Council No. 36 or the Financial Secretary of the Local Union having jurisdiction.
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Quit Pay. Employees who quit during the pay period shall be paid in accordance with the State law either by picking up the check on the job, by registered or certified mail, or through a representative of the Painters and Allied Trades District Council No. 36.
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Related to Quit Pay

  • Merit Pay It is the parties’ intent to not simultaneously provide employees with both: a) the wage premiums referenced in Subsection A of this Agreement, and b) an above-top-step merit premium program. Therefore, existing bargaining units with employees which have eligibility for above-top-step merit pay as provided under KCC 3.15.020(C)(3) and

  • Benefit Payments Benefit Payments, as referred to in this Agreement, means the sum of (i) Claims, as described in ▇▇▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇, (▇▇) Cash Surrender Values, as described in Paragraph 3 below, and (iii) Annuity Payments, as described in Paragraph 7 below.

  • Retirement Pay Any teacher with ten (10) years consecutive teaching experience in the Park Hill School District immediately prior to retirement from PSRS without an age reduction for early retirement, shall receive upon retirement from the Park Hill School District a terminal amount based upon the following formula: (Notation, the teacher must make application to PSRS for retirement and begin drawing from PSRS on the first available month following retirement). Years of service to the Park Hill School District to be divided by ten (10) and multiplied by one-ninth (1/9) of the last completed contract. Retirement notification after December 15 for the current academic year will result in a reduction of $1,000.00 from the total under Article 36. In the event of a sudden severe illness of the teacher, teacher’s legally recognized spouse, and/or child, the transfer of a legally recognized spouse, or being called into active military duty may be cause for the District not to impose the late notification reduction of $1,000.00. A teacher who otherwise qualifies for payment under Article 36 and dies while currently classified as an active employee will receive such payment.

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Compensation Benefits In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.